The Day Today

* SNB girding their loins for action – President Jordan gives interview at weekend that ensuring the cap holds is “absolutely central to ensure adequate montary conditions”. Regarding lifting the floor to 1.25 EUR he repeated that they’re not in the business of “fine tuning”,

* US Labor Dept biennial survey shows just what the central bankers have been getting their knickers in a twist about – namely that the job market is improving but the jobs people are getting aren’t pushing wages higher and aren’t exactly what they want:
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* Fed’s Bullard FT interview http://on.ft.com/1tEezHJ :
– The Fed will have to remove the words “significant” from underutilisation of labour, and the pledge not to raise rates for a “considerable time”